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Aptech fiscal Q4 profit falls YOY

Aptech Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 43 Indian paise per share, a decrease of 59.6% from 1.05 rupees per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.0 million rupees, a decline of 63.5% from 46.6 million rupees in the year-earlier period.

The normalized profit margin fell to 3.7% from 9.7% in the year-earlier period.

Total revenue declined year over year to 462.7 million rupees from 480.3 million rupees, and total operating expenses climbed 6.4% from the prior-year period to 414.7 million rupees from 389.9 million rupees.

Reported net income decreased 54.6% year over year to 49.2 million rupees, or 1.23 rupees per share, from 108.2 million rupees, or 2.44 rupees per share.

For the year, the company's normalized net income totaled 2.53 rupees per share, a fall of 42.8% from 4.41 rupees per share in the prior year.

Normalized net income was 100.8 million rupees, a decline of 48.6% from 195.9 million rupees in the prior year.

Full-year total revenue decreased 5.5% year over year to 1.68 billion rupees from 1.77 billion rupees, and total operating expenses totaled 1.55 billion rupees, compared with 1.54 billion rupees in the year-earlier period.

The company said reported net income decreased 47.4% on an annual basis to 156.4 million rupees, or 3.92 rupees per share, in the full year, from 297.4 million rupees, or 6.70 rupees per share.

As of July 7, US$1 was equivalent to 63.55 Indian rupees.